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jessette20 · 6 years

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Facebook Report Sprout

Let’s be honest here–Facebook isn’t slowing down. There are more than 1.86 billion monthly active users on Facebook, which includes a 17% spike in two years. For your business, brand or enterprise company, this channel is unavoidable if you’re truly trying to create a worthwhile play in social media marketing.

Your Facebook marketing strategy has to be unique. There’s an ocean of potential customers you can reach on Facebook. But with a larger pool, it’s harder to dissect and find your spot within its space.

That’s why we created this Facebook marketing strategy for 2018, which includes seven essential steps to not only get started, but also create an impressive plan. Get started now.

1. Create Facebook Goals That Directly Affect Your Biggest Needs

Every marketing strategy you’ve read–at least the good ones–probably suggested to create goals for your specific market. The reason everyone mentions this is because goals are essential to address your biggest marketing needs.

If you’re considering using Facebook for marketing or looking to improve upon an existing strategy, you obviously have some needs. Don’t create unrealistic goals that chase vanity metrics like followers and Likes. Instead, address your biggest challenges with Facebook or social media in general through proper tracking tools.

Addressing Your 2018 Goals

Your CEO most likely sent out an inspiring email or gave an enthralling speech at the end of 2017 outlining the core goals for 2018. OK–maybe it wasn’t life changing, but we bet if you looked back, it has everything you need for your Facebook marketing strategy in 2018.

Here are some common yearly goals for businesses and how an effective Facebook strategy can help you in 2018:

Increasing quality of sales: Improving the quality of sales starts with better targeting (we’ll address this more further down). Through a well-planned Facebook marketing strategy, you reach your target audience more efficiently. Just because the pond is bigger, doesn’t mean you’ll get bigger fish. Work on what you know best and use Facebook as a source to improve your reach.

Adding more value to the organization: Facebook can better nurture customers, improve awareness and provide more resources to you audience. Make Facebook your go-to source of information.

Better pulse on the industry: Are your competitors always one step ahead? With the help of social media monitoring tools, you can track, listen and report on all social conversations revolving around you, your competitors or the industry. Always try to increase your listening powers before speaking.

More efficient recruiting: No one said social recruiting is easy, but it’s only growing in popularity. Social can be a great source for increasing recruiting efforts and reaching top talent faster (we’ll also talk about this more later). Working your employees’ social networks for a higher social reach makes your chances of recruiting higher quality employees better.

Smarter growth: Reducing churn, limiting spend and increasing acquisition are all parts of a successful business, but Facebook can help you in each of these areas. Whether it’s through ad spend, increased targeting or more social selling, addressing your Facebook marketing strategy can help you get closer to these goals.

These goals won’t address everyone’s needs, but you can see a trend on how better social media marketing can affect the entire organization. You’ve heard it a thousand times, work smarter not harder.

2. Study Your Facebook Demographics

Demographics are key to any marketing strategy and on social media, it’s no different. When looking at Facebook, you have nearly 1.15 billion people scrolling through their feeds every day, so it’s important to know who you need to reach and how.

Additionally, understanding the latest demographics is important as this network’s audience fluctuates through the years. But for 2018, let’s take a look at the latest data on its core demographics:

Age & Gender

Data from the Pew Social Media Update 2016 report showed women tend to adopt Facebook more frequently than men and the core age group is 18-29. However, with 62% of 65 and older users on Facebook, your band has a much better reach across age groups than any other network.

Pro Tip: don’t limit yourself because you think younger generations are only on Snapchat and Instagram. Facebook is still most used network among 18-29 year olds.

Location & Income

Facebook’s demographics spread across all primary locations and income pretty evenly. However, urban and rural areas both have 81% of their demographics on Facebook, while suburban areas make up 77%.

As for income, data shows the highest amount of Facebook users (84%) make less than $30,000, while 77% make more than $75,000.

Pro Tip: Again, Facebook’s versatility shouldn’t prevent you from exploring targeting your most core business demographic. More likely than not, you have better reaching power here than other social networks.

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First Name Last Name

Business Email Phone Number Company Name Country

Select OneUnited StatesUnited KingdomCanadaAustraliaMexicoSouth AfricaAfghanistanÅland IslandsAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBoliviaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBritish Virgin IslandsBruneiBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCook IslandsCosta RicaCroatiaCubaCuraçaoCyprusCzechiaDenmarkDjiboutiDominicaDominican RepublicDR CongoEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland IslandsFaroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern and Antarctic LandsGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and McDonald IslandsHondurasHong KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsle of ManIsraelItalyIvory CoastJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKosovoKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacauMacedoniaMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesiaMoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorth KoreaNorthern Mariana IslandsNorwayOmanPakistanPalauPalestinePanamaPapua New GuineaParaguayPeruPhilippinesPitcairn IslandsPolandPortugalPuerto RicoQatarRepublic of the CongoRomaniaRussiaRwandaRéunionSaint BarthélemySaint Kitts and NevisSaint LuciaSaint MartinSaint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint MaartenSlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth GeorgiaSouth KoreaSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyriaSão Tomé and PríncipeTaiwanTajikistanTanzaniaThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUnited States Minor Outlying IslandsUnited States Virgin IslandsUruguayUzbekistanVanuatuVatican CityVenezuelaVietnamWallis and FutunaWestern SaharaYemenZambiaZimbabwe

Company Size

Select OneWe’re an agencyMyself only2-10 employees11-50 employees51-200 employees201-500 employees501-1,000 employees1,001-5,000 employees5,001-10,000 employees10,001+ employees

I agree to Sprout Social’s Terms of Service. I acknowledge that Sprout Social uses my personal information in accordance with its Privacy Policy. Request a Demo

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3. Choose & Schedule Your Facebook Content

Each social network has it’s own style of content, but Facebook tends to jump the line. With Facebook Stories, Live, image and videos posts, your brand’s content strategy has endless opportunities.

For your business, it’s about the quality of content and what your audience should come to expect from your Facebook Business Page. Remember that being overly promotional can have its downside. According to the Sprout Social Q3 2016 Index, 57.5% of social media users said posting too many promotions was the most annoying action from brands.

Your Facebook Page shouldn’t be like a used car lot–full of ready-to-pound salesmen. The content you produce should be compelling, entertaining or helpful to your audience. People know they can get an elevator pitch on your website or ad. But this doesn’t mean your social networks, especially Facebook, have to be a home for promotions.

Highlight your brand values, identify your audiences and create a space that is unique to your company.

Types of Facebook Content & How to Implement

So you know the importance of your content, but which type will work best for your brand? Let’s take a look at the various types of organic Facebook content and how you can best use each one:

Status: The simplest form of communication can sometimes be the most powerful. With new features like larger text for shorter messages and the option to put your text on a colored background, you can get your essential message out in a more vibrant and eye-catching way.

Images: Posts with images drive 2.3 times more engagement, so being visual helps. But don’t rely on images to do all the work–put effort into high-quality photos and awe your audience. If your product is considered “boring,” use beautiful images to highlight your brand’s creative side. Inspire users with virtual reality features or 360-degree content.

Videos: Video is in high demand and 43% of users would like to see even more from marketers. However, only 15% of Facebook videos are watched with sound. Video should be accessible, easy to digest and always have captions. Create videos that catch a user’s attention and provides something worthwhile.

Links: Links are perfect for sharing industry news and your own blog content. Find your most engaged content and continue to share it on Facebook. It’s not easy doing so organically, but it shouldn’t stop you from posting your best content.

Facebook Live: Live content drives three times more engagement on Facebook. With in-the-moment content growing in popularity, see how your brand can give sneak peeks into industry or office events, product launches and other behind the scenes content. Go Live, wow your audience and engage.

Facebook Stories: Facebook Stories are in-the-moment content clips. This was based off Instagram Stories, which ultimately were from Snapchat Stories–seeing a trend here? Brands have tested their efforts on Snapchat for a few years now. But with the newest release, you can attempt this style of content with one of your biggest networks. Follow our Snapchat guide for ideas!

Schedule Facebook Content to Your Social Media Calendar

The last thing you want to do is hastily post something to Facebook for the sake of publishing content. Planning content means you put more effort into the quality of a post. This gives you a higher chance at engaging and inspiring your audience.

However, you don’t always have time to create content. That’s why using a social media publishing tool like Sprout Social can help you stay on track with content. Easily view, monitor and maintain your Facebook publishing with the social media calendar view.

With our scheduling tools, you can set up posts across all networks and build your Facebook content for weeks in advance. Don’t rush to schedule. Save time and plan ahead with a tool that makes it easy to manage and publish all at once. Check out our guide on how to create a calendar below!

4 Steps for Creating a Social Media Calendar

If you're not taking the time to plan your social media calendar in advance, you could end up scrambling to find Read More …

4. Determine Your Facebook Ads Strategy

Maybe you read the previous section and thought–nice idea, but it seems like a lot of work for little payoff. Well, you’re not totally out of bounds with that idea. According to a SocialFlow study, Facebook organic reach dropped a massive 52% in 2016 and has fallen even more in 2018.

However, you should always put more effort into your social media strategy than what you expect to get in return. Growing your audience and brand loyalty doesn’t happen overnight. You have to earn it.

But there is one shortcut to get there a bit faster–social media advertising. Specifically on Facebook, there are more than 4 million advertisers with just an average click-through rate of 0.9%. Advertising on Facebook is simpler, but not easier. You still have to effectively build your brand and showcase it perfectly with ads.

Aim for Higher Brand Awareness

You Facebook ad campaigns should always be focused on two things:

Cost Effective

Relevant

For starters, you want to stay within your allocated weekly or monthly spend with Facebook to avoid over exposure and useless clicks. Ad spend can shoot up in a hurry when you’re targeting isn’t effective or set appropriately, which brings us to the next step.

Your Facebook ad has to be relevant. Targeting a broad audience isn’t a bad thing. At first, you want to actually see what works best to build awareness. However, relevance is crucial toward great Facebook ads.

Try to build custom audiences and address customers who would best fit your Facebook content. If it’s a retargeting measure, make sure the content provides something recognizable but also something new.

Decide on Creative Content

We’ll mention it again, but quality over quantity will always prevail. Earlier in this post, we did a deep dive into the types of content on Facebook. Now it’s time to choose which pieces of content you think are worth advertising in front of a much larger audience.

Some of the best aspects of your ad content should include:

Identity: Does it relate to your brand and effectively showcase your product/service? Are your logo and business colors correctly displayed?

Reward: What do viewers get out of it? Is it a deal, promotion, offer code, whitepaper or industry guide?

Tone: Does your content maintain the same tone across your entire Facebook page or business in general?

Action: Your content must drive an action, which goes back to your Facebook goals. A clear and precise call to action is best.

Keep Facebook Ad Content Fresh

Facebook ad content is literally squeezed between your friends and family feed, which means it’s seen often. Have you ever deemed a TV commercial the worst ever and seen it replayed endlessly through your favorite show? This is the same thing.

Don’t let your content get stale with viewers, so make sure to update and repurpose your ad content every week or two. The whole purpose is to drive users to a specific site or purchasing page. So don’t let old content ruin your Facebook retargeting or remarketing efforts.

Create a spreadsheet and document your core metrics. Each metric will provide you with unique insights into what you specifically want to achieve with your ad:

Click-through Rate: If traffic is essential, track CTR and see where you can improve.

Impressions: Having trouble with visibility? Revisit your image or content and see what can drive more impressions.

Cost to Acquire: If your purpose is to limit spend and budget more effectively, track cost to acquire and set weekly or monthly goals.

5. Engage & Don’t Wait for Your Audience to Interact First

Like most social media channels, they’re built as networks to converse, discuss and share content. As a brand, you can’t forget that basic idea of what makes a social media network. That means conversation and engagement should never be put on the back burner.

Instead, try to be a community for your audience. Facebook is a great place to hold industry chats or discussions, whether it’s with a different audience or your own customers. While Twitter often gets all the limelight of being a social customer care mecca, don’t forget about Facebook too.

You can help drive Facebook engagement by asking people to simply engage in the first place. However, you can’t sit back and wait for your followers to interact. You can’t reach everyone, but there are ways to increase engagement.

For example, Zippo does a great job at interacting with users on several comments and continues the discussion on Facebook. The brand also acts as a source for info for loyal customers.

Post at the Best Time on Facebook

Facebook is still one of the most difficult social networks to use for organic content. Again, algorithms make it a challenge for businesses trying to find optimal posting times. However, our guide on the best times to post on social media outlines the do’s and don’ts of posting on Facebook:

Thursday is the highest recommended day to post.

Noon and 2 p.m. on Wednesday and 1 to 2 p.m. on Thursday are most engaged times on Facebook.

You’re safe to post weekdays between 10 a.m. to 3 p.m.

Saturday is the least engaged day of the week.

The least recommended times include early mornings and late nights.

6. Enable Your Entire Workforce to Use Facebook

Like we mentioned earlier, social media works as a great resource for employee advocacy. By providing employees with shareable content, you’re able to reach their audiences. This makes your company’s reach all the greater when you can get content shared through your employees’ feeds.

However, the biggest issue is finding the right content to share. Most employees fall into two categories:

They’re afraid to share company content on networks like Facebook.

They’re too willing to share company information on networks like Facebook.

A marketing data report from Bambu showed 54% of people don’t know how to share the right content and be an advocate on social media. When the same report shows 70% of employees use social at work, you have to build an advocacy platform to enable their reach.

Giving Employees a Chance to Share

It all starts with an employee advocacy program that allows your staff to use their biggest networks like Facebook to share company info. Luckily with tools like Bambu, you can easily track, measure and promote content from within your walls.

Use Facebook as a tool to show off company perks, highlight awards or even promote new job openings. Giving them easy-to-use tools makes sharing a sinch. Utilize your employees have and have your employees help promote your business on Facebook.

7. Track & Analyze Your Facebook Marketing Strategy

Last but not least, a successful Facebook marketing strategy needs to be analyzed–strenuously. We’ve already mentioned some ways to carefully analyze your best times to post, Facebook advertising metrics and the types of content to publish.

If you plan to improve your strategy for 2018 and into 2019, it takes helpful insights from Facebook analytics tools and its competitor analysis features. Our beautifully-designed reports give access into multiple Facebook Pages, activity overviews and content reports to see what works best.

To be truly successful, you need insights on what works. That’s why social media tools are a must for any marketer trying to get ahead of the game in 2018.

Conclusion

These seven steps should help you navigate Facebook marketing and identify the strategy that works best for your brand. In short, when you’re looking to get started with a Facebook strategy, you’ll want to:

Create Facebook goals that directly affect your biggest needs and address your business goals

Study your Facebook audience demographics

Choose your types of Facebook content and schedule them for posting

Determine your Facebook Ads strategy and drive brand awareness

Engage your audience immediately, including identifying the best times to post

Enable your entire workforce to use Facebook and become brand advocates

Track and analyze your Facebook Marketing strategy to discover what worked and what didn’t

We’d love to know what you do to be successful on Facebook. Feel free to comment below!

This post 7-Step Facebook Marketing Strategy to Dominate 2018 originally appeared on Sprout Social.

from http://bit.ly/2N2Ub5x

#Social Media Marketing

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minnievirizarry · 6 years

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7-Step Facebook Marketing Strategy to Dominate 2018

That’s why we created this Facebook marketing strategy for 2018, which includes seven essential steps to not only get started, but also create an impressive plan. Get started now.

1. Create Facebook Goals That Directly Affect Your Biggest Needs

Addressing Your 2018 Goals

Here are some common yearly goals for businesses and how an effective Facebook strategy can help you in 2018:

Adding more value to the organization: Facebook can better nurture customers, improve awareness and provide more resources to you audience. Make Facebook your go-to source of information.

2. Study Your Facebook Demographics

Age & Gender

Pro Tip: don’t limit yourself because you think younger generations are only on Snapchat and Instagram. Facebook is still most used network among 18-29 year olds.

Location & Income

As for income, data shows the highest amount of Facebook users (84%) make less than $30,000, while 77% make more than $75,000.

A Better Way to Manage Social

Request a Demo

First Name Last Name

Business Email Phone Number Company Name Country

Company Size

Select OneWe’re an agencyMyself only2-10 employees11-50 employees51-200 employees201-500 employees501-1,000 employees1,001-5,000 employees5,001-10,000 employees10,001+ employees

I agree to Sprout Social’s Terms of Service. I acknowledge that Sprout Social uses my personal information in accordance with its Privacy Policy. Request a Demo

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Thank You for Requesting a Demo!

Someone from our sales team will contact you shortly.

3. Choose & Schedule Your Facebook Content

Highlight your brand values, identify your audiences and create a space that is unique to your company.

Types of Facebook Content & How to Implement

So you know the importance of your content, but which type will work best for your brand? Let’s take a look at the various types of organic Facebook content and how you can best use each one:

Schedule Facebook Content to Your Social Media Calendar

4 Steps for Creating a Social Media Calendar

If you're not taking the time to plan your social media calendar in advance, you could end up scrambling to find Read More …

4. Determine Your Facebook Ads Strategy

Aim for Higher Brand Awareness

You Facebook ad campaigns should always be focused on two things:

Cost Effective

Relevant

Decide on Creative Content

Some of the best aspects of your ad content should include:

Identity: Does it relate to your brand and effectively showcase your product/service? Are your logo and business colors correctly displayed?

Reward: What do viewers get out of it? Is it a deal, promotion, offer code, whitepaper or industry guide?

Tone: Does your content maintain the same tone across your entire Facebook page or business in general?

Action: Your content must drive an action, which goes back to your Facebook goals. A clear and precise call to action is best.

Keep Facebook Ad Content Fresh

Create a spreadsheet and document your core metrics. Each metric will provide you with unique insights into what you specifically want to achieve with your ad:

Click-through Rate: If traffic is essential, track CTR and see where you can improve.

Impressions: Having trouble with visibility? Revisit your image or content and see what can drive more impressions.

Cost to Acquire: If your purpose is to limit spend and budget more effectively, track cost to acquire and set weekly or monthly goals.

5. Engage & Don’t Wait for Your Audience to Interact First

For example, Zippo does a great job at interacting with users on several comments and continues the discussion on Facebook. The brand also acts as a source for info for loyal customers.

Post at the Best Time on Facebook

Thursday is the highest recommended day to post.

Noon and 2 p.m. on Wednesday and 1 to 2 p.m. on Thursday are most engaged times on Facebook.

You’re safe to post weekdays between 10 a.m. to 3 p.m.

Saturday is the least engaged day of the week.

The least recommended times include early mornings and late nights.

6. Enable Your Entire Workforce to Use Facebook

However, the biggest issue is finding the right content to share. Most employees fall into two categories:

They’re afraid to share company content on networks like Facebook.

They’re too willing to share company information on networks like Facebook.

Giving Employees a Chance to Share

7. Track & Analyze Your Facebook Marketing Strategy

To be truly successful, you need insights on what works. That’s why social media tools are a must for any marketer trying to get ahead of the game in 2018.

Conclusion

Create Facebook goals that directly affect your biggest needs and address your business goals

Study your Facebook audience demographics

Choose your types of Facebook content and schedule them for posting

Determine your Facebook Ads strategy and drive brand awareness

Engage your audience immediately, including identifying the best times to post

Enable your entire workforce to use Facebook and become brand advocates

Track and analyze your Facebook Marketing strategy to discover what worked and what didn’t

We’d love to know what you do to be successful on Facebook. Feel free to comment below!

This post 7-Step Facebook Marketing Strategy to Dominate 2018 originally appeared on Sprout Social.

from SM Tips By Minnie https://sproutsocial.com/insights/facebook-marketing-strategy/

0 notes

gs-offshore · 8 years

Text

The Best Offshore Banks 2016

The theme of these posts has changed over the years to increasingly include banks that might not qualify as offshore. This year, I will divide the lists into three categories.

The first category, Best Banks 2016, lists the banks that I have had the most positive experiences with during 2016 (based on relationships going back many, many years). It’s often very challenging to open accounts with these banks as a non-resident or international business. Not impossible; but you need a very good, legitimate business case and/or show significant capital.

The next category, Best Offshore Banks 2016, is banks which many offshore service providers work with and with which it is relatively easy to open an account. These banks are more attainable to the average reader of STREBER Weekly. The drawback is that the quality of the bank may not always reach the same levels as the first category.

Lastly, I felt it’s about time to start looking at Digital Banks, many of whom aren’t technically banks since they don’t hold a banking license. They are instead using more lenient licenses, which limits their service offering somewhat but they still fill a purpose and continue to grow in popularity.

As always, these lists do not take into account financial stability nor should the lists be considered recommendations. This is entirely and solely based on my own experiences; nothing else.

Best Banks 2016

Butterfield

Crèdit Andorrà

LGT

SEB

UBS

Butterfield

Bermuda, Cayman Islands, Bahamas, Guernsey, Switzerland | http://ift.tt/2hRD32h

Headquartered in Bermuda and with a history going back to the 1850s, Butterfield is one of the finest banks in the Atlantic-Caribbean region.

The bank is present also in the Cayman Islands, The Bahamas, Guernsey, and Switzerland. Services vary and those looking to open an international business account with Butterfield will likely have their account domiciled in Bermuda or Cayman Islands, as other locations are mostly focused on private banking or mortgages/lending.

The Bahamas branch is almost entirely dedicated to trusts.

The bank is winding down its UK presence, which never gained enough momentum against other private banks in the UK.

Butterfield has a strong range of products and is doing a pretty good job keeping up to speed with the industry leaders. The bank doesn’t handle EUR very well, which can be a big hurdle for European-focused businesses. However, if EUR isn’t an important currency to you, the bank can be a very strong candidate.

Generally speaking, account opening is pretty tricky with Butterfield. Unless you are a business incorporated in Bermuda or Cayman Islands, they don’t take on a lot of non-HNWI non-residents. A strong intermediary is nearly always required.

Crèdit Andorrà

Andorra, Panama | http://ift.tt/2iCDnkd

While Andbank is taking great strides to be the best bank in Andorra and time will tell what comes of Vall Banc (the bank being formed from the ashes of BPA), Crèdit Andorrà stands strong as the local leader in my eyes.

With a recently updated internet banking and increased number of English-speaking staff, the bank remains one of my absolute favourites. Opening accounts for local residents and local companies is a breeze, and non-resident clients are generally welcome with a relatively low minimum deposit of 50 – 100,000 EUR for private banking.

Private banking clients are sometimes domiciled in Panama (by request or decision by the bank). Trust and foundation arrangements are well understood by the bank.

LGT

Liechtenstein, Switzerland, Austria, others | https://www.lgt.com/

A purebred private bank (all they do is private banking and asset management) owned by the Liechtenstein royal family, LGT is very good at what they do.

Minimum deposit for non-residents is usually one million CHF/EUR, although sums as low as 100,000 CHF/EUR will sometimes work. Residents can get away with much less.

Unlike many private banks, credit cards are available, including premium cards and cards in other currencies (EUR and USD).

SEB

Northern Europe, others | https://sebgroup.com/

SEB has lately become very strict on requiring that corporate clients be local businesses or businesses with some form of attachment to the jurisdiction. Incorporation does for the time being seem to be enough, which is good news for those interested in forming for example an Estonian company.

Doing business in the Nordics and Baltics, SEB is a very good partner to have. With one simple and secure login, you can manage finances of different but related legal entities (group companies) across jurisdictions. Moving funds across borders is quick.

SEB’s user management is among the best in the entire banking industry. You can set very finely tuned rules for who can do or see what within your organization.

Cards are available in SEK and EUR across the different jurisdictions.

Their UK branch is undergoing a policy revision at the moment, which should hopefully terminate in SEB UK being more open to international business than other banks.

Wealth management and private banking are available to residents worldwide with relatively low barrier to entry (around 500,000 to 1 million SEK). I generally prefer LGT and UBS (and some other banks) over SEB for private banking, though; at least for non-Scandinavian clients.

UBS

Switzerland, Liechtenstein, others | https://www.ubs.com/

This year, the best of the best. Whether it’s been private banking, personal banking, or business banking, UBS has stood strong. They have practically everything you could wish for from a bank, and it’s executed beautifully.

They can be a little difficult when it comes to non-resident businesses, often requiring a strong connection to Switzerland. Leniency increases as the risk profile of the business candidate decreases and its revenue goes up.

For local businesses and residents, they are splendid. I put them ahead of Credit Suisse on most fronts.

Best Offshore Banks 2016

DBS

MCB

OCBC

SBM

Standard Bank (Stanbic)

DBS

Singapore, Hong Kong, China, others | https://www.dbs.com/

DBS is one of the finest banks in the world today. They could easily shut down applications for offshore companies and still make it the top-10 (maybe top-5) in the previous category. Fortunately for founders and finance officers at international and offshore businesses, DBS is still open for business.

You’ll need an intermediary in most cases, though. The due diligence process is standardized and streamlined, which usually makes for a pretty smooth on-boarding process for legitimate clients.

Minimum deposit varies depending on jurisdiction and services required, but expect to have to show at least 10,000 SGD or 100,000 HKD.

While some customer service representatives don’t always speak the best English, I have always found them very willing and capable to help.

DBS does all three big pillars of banking very well: personal, business, and private banking.

MCB (Mauritius Commercial Bank)

Mauritius, Seychelles, Maldives | http://ift.tt/2hRuBQq

MCB is both the oldest and largest bank in Mauritius and has successfully expanded into Seychelles, Maldives, Madagascar, and Mozambique.

The bank has been a pillar in the offshore industry for decades, which means the bank is accustomed to all sorts of jurisdictions and understands offshore business very well.

Account opening nowadays almost always require an intermediary (at times, personal accounts can be opened for non-residents directly with the bank). Following a recent tightening of internal policies, many intermediaries have been relegated to personal accounts only. It’s possible to move from a personal to a business account after some period with the bank.

Service quality is generally high and there is a fairly sophisticated range of services available.

OCBC

Singapore, Hong Kong, others | http://www.ocbc.com/

This includes OCBC Wing Lung (Hong Kong) and Bank of Singapore (private banking only). The bank also runs a popular brokerage called iOCBC.

Just like DBS, OCBC would easily fit in the first category. In terms of quality, sophistication, and all-round pleasantness to work with, OCBC is up there with UBS and the rest. What distinguishes OCBC from them is that account opening is much more relaxed. A relatively high minimum deposit of 30,000 SGD keeps most small fish (often unprofitable clients) away and a competent compliance team, well versed in offshore companies thanks to the bank’s long-standing acceptance of international business clients, together keep the bank clean.

Account opening requires a personal visit in practically all cases. Exceptions effectively limited to private banking client (often providing an off-site meeting with the client) or special situations with extremely qualified introducers.

SBM (State Bank of Mauritius)

Mauritius | http://ift.tt/2iCFHrn

The, for better or worse, government-owned State Bank of Mauritius has a very colourful history, jumping on the online-gambling train right when it started in the 1990s and processing millions upon millions in sketchy payments.

Times have changed and so has the bank, on the surface at least.

Like MCB, SBM has been involved in offshore banking and corporate services for decades. Unlike a compliance officer at your average European bank, a compliance officer with SBM can spot a fake certificate of incorporation from the Seychelles right away. This confidence helps boost the banks’ ability to take on IBCs and other offshore companies.

I generally find MCB to have a more modern feel and experience. SBM’s internet banking is looking very dated. But aside from that, it’s still a rock solid bank to work with.

Opening an account with SBM is pretty straightforward. Intermediary is usually required.

Standard Bank (Stanbic)

Isle of Man, Jersey, Africa, worldwide | http://ift.tt/ROUIBM

While many readers, who are not familiar with banking in Africa, associate Standard Bank with Isle of Man only, it is in fact the third African bank on this top-5 list, having its headquarters in South Africa and being the by far wealthiest bank in Africa. In 2016, Standard Bank itself sold most of its non-African operations have now been sold to ICBC.

Most offshore companies that open an account with Standard Bank have their accounts domiciled in Isle of Man. It is possible to transfer relationships across jurisdictions provided there is good justification for it.

With a relatively modest minimum deposit of 6,000 GBP/EUR, opening a bank account with Standard Bank in Isle of Man or Jersey can be one of the smoothest ways for an offshore business to bank with a large international bank in Europe or Africa.

For trading within Africa, banking with Standard Bank can make managing your business’ finances much easier. Its reach is greater than any other African bank.

Top Fintech Banks/Quasi-Banks (Digital Banks)

LeuPay

N26

Paysera

LeuPay

Malta/Bulgaria | https://www.leupay.eu/

This Malta-based quasi-bank is closely affiliated with the up-and-coming Maltese bank Satabank and Bulgarian financial services company iPay. Satabank is also Bulgarian-owned.

Stable services, attractive fees for EUR/Eurozone payments, wide range of currencies, and relatively easy-going account opening make up for the rather poor customer service that plagues LeuPay.

Minor negative that cards are issued under a Bulgarian BIN. Some website’s fraud checks won’t like it that your card is issued there. The IBAN is Maltese, using a SWIFT BIC supplied by Satabank.

N26

Germany | https://n26.com

The hipness of N26 is starting to wear off and we are seeing the bank (one of few of these to actually have a banking license) mature. The long-term strategic vision of N26 may be blurry at best but it’s present state it nothing to sneeze at.

A rock-solid mobile app and increased availability across the EU/EEA, the future does look pretty bright for N26.

N26 is useless for business, though. Arguably useful for personal banking for residents in the right countries.

Cards are issued under a German BIN and the IBANs are German as well.

Paysera

Lithuania | https://www.paysera.com

By and large the same service as LeuPay, although this time in the form of a more established Lithuanian outfit. They are largely riding on SEB’s platform, which happens to be a very good one.

Account opening is a breeze, both personal and corporate. Offshore companies require some additional work but European business accounts are approved practically same day provided you supply the right docs. I’ve seen UK companies approved in a matter of hours.

Low limit on the card, which is issued under a UK BIN. IBANs are Lithuanian and the SWIFT BIC is Paysera’s own.

Banking in 2016 in Review

2016 has seen banks prepare for AEOI, CSR, FATCA, and other acronyms and initialisms related to the automatic reporting of bank accounts. Some will say banking secrecy is dead. As you know, the reality of secrecy is more complicated than that.

One upside of this increased transparency is that I’m finding it increasingly easy to place clients with banks since much of the secrecy stigma is going away. The barriers to entry have gone up slightly and we’ll likely see a divide being grown where some banks move towards more and more exclusivity and others are lowering theirs thanks to automation on compliance.

The lines between offshore banking and regular banking are beginning to blur.

Readers who expect me to be some cloak-and-dagger figure hiding people’s money in remote locations are often surprised (and more than once angry and hostile) with me when I voice a positive attitude towards AEOI.

For me, AEOI is good business. As mentioned, it makes it easier to place clients with banks. Furthermore, it means that structures to avoid exchange of information are require even more finesse and complexity to remain within the confines of the laws and regulations, which is both more fun and challenging to arrange while obviously also being more lucrative.

In other developments, one of the most exciting things to come out of recent regulatory changes in mainly EU/EEA is the advent of digital banks (such as the aforementioned). These disruptors are using what is actually pretty mundane technology to beat stale, monolithic banks when it comes to customer acquisition and offering what feels like a faster, hipper banking experience.

Time will tell if these digital banks can compete long-term when it comes to the less cool aspects; i.e. service quality, sophistication, security, compliance, and ultimately sustainability. One thing seems to be for sure, though: they are changing people’s expectations of what (personal) banking is.

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